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With any luck, you were able to take some time off around the holidays to relax and recharge for the New Year. With time to reflect and decompress, you should be entering your next year of business with a fresh set of eyes and new found energy. Make the most out of this feeling by channeling your energy into a plan that will give your business the direction and momentum it needs to have its best year yet.
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At the core of any successful hiring strategy are the core values and beliefs of the organization and its leaders. You know your company best and what you want your company to grow up and be in the world. Gut feel or not, take that vision and use that as your guide in hiring and making important growth decisions as you go.
Hiring is a challenge for many small businesses because it does require a significant investment and a significant risk to bring a new person onto your team.
While very business is unique, the two categories we hear business owners mention the most as being the most important when making hiring decisions are people and investment.Read More »
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In a typical ecommerce implementation a merchant is faced with an Ultimatum Game type decision– how to price a product/service in order to maximize his own utility—i.e. to generate the greatest possible profit without losing the sale. If the merchant can determine the 50-50 split scenario of perfect Ultimatum Game fairness, he can be reasonably certain of closing deals with a modest utility upside for himself. If he can find the lowest possible split that the customer will accept, he will maximize his utility for the sale. Thus the critical question for an ecommerce merchant is how to create a website that moves a customer to pay the highest possible price while still perceiving positive utility for the transaction.
The Youth Orchestras of San Antonio started as San Antonio’s first community-wide youth orchestra in 1949. Today, having seen exceptional nonprofit growth, more than 1,800 young people participate in the YOSA experience.
A customer of PaySimple since 2016, YOSA is a great example of a business that has grown their business using technology, community involvement and flexible planning.Read More »
The last time we checked in on small business optimism was June, 2016—at that time the Dow Jones Industrial Average (DJIA) was at 17,829, the US unemployment rate was about 5%, inflation was at 1%, and economists declared the market booming; yet small business owners were less than optimistic about business conditions and the outlook for future growth.
Fast forward 9 months, and we have a new President, the DJIA has reached record highs (over 21,000, with a slight pullback to just under that number today), the unemployment rate is holding steady (4.9% at last report), and inflation has risen to 2.7% prompting the Federal Reserve to raise interest rates once again. Fears of rampant inflation aside, the economy appears on a tear. And finally, small business owners are seeing a light at the end of the tunnel, and apparently optimistically no longer fear it to be a truck.Read More »
Ultimately, our customers’ success is the reason we’re here and is what drives our mission of bringing simplicity and flow to small businesses. If we can fulfill that mission, then we are inherently making our customers more successful. From the acquisition of new customers to the retention of existing customers we invest in customer success at every step along the way because it is so core to our purpose and to our own success.Read More »
As a small business owner you’re likely saucy, cheeky, lively, bold and full of spirit—the true definition of sass; but do you have that other SaaS? That is, has your small business leveraged Software as a Service to simplify, secure, and streamline business applications in the cloud?
Chances are the answer is yes. Even if you haven’t implemented SaaS, you’ve likely heard the term and you can probably name major players such as Salesforce (which has become almost synonymous with the term), but do you really know what makes a SaaS application, and why this model is advantageous for your small business?Read More »
Whether your business is just starting out, going through some changes, or has been around for many years, having a good understanding of your financial position (especially your cash flow) can make a huge difference in your daily management and how you approach the future of your business. Starting to fill out a blank spreadsheet with projections may seem intimidating, but it has less to do with pure math, and more to do with how much you know (or can find out) about your business, the market, and other factors that influence the numbers.Read More »
Raising money to grow your small business is hard. Winning money to grow your small business isn’t much easier, but it can be more fun. It gives you the opportunity to engage with your customers and with your fellow small business owners to promote your business and your local neighborhood.
Don’t let modesty prevent you from nominating yourself for any small business award, or from asking your customers for a nomination or a vote. However slim you think your chances are, they are guaranteed to be zero if you don’t enter the field.Read More »
As your business grows, you may find that it becomes harder and harder to be as proactive about your business’ growth as you’d like. Keeping up with the day-to-day and managing the curveballs you encounter on a regular basis often distract and take time away from the long-term strategy of running your business. This is a common theme among small business owners and a pretty normal feeling for a business that’s growing, but now is the time to take a step back and figure out how to manage your growth in a way that will let you control and steer the direction of where your company is going.
For most service-based businesses, the customer relationship is one of the most important components of your success. Knowing that, it’s time to take a look at your customer base from a strategic standpoint, and use that information to inform how you will grow your customer base in the future.Read More »